Perry Ellis licenses Cubavera and Havanera shoes

Miami clothing marketer Perry Ellis International (Nasdaq: PERY) said it has licensed Paradise Shoe Co., a Chicago-based distributor of moderately priced footwear, to manufacture and distribute Perry Ellis' casual footwear, belts and hosiery for men and women under the Cubavera and Havanera brand names. The agreement is for the United States, Virgin Islands, Puerto Rico and the Bahamas, Perry Ellis said, with a launch for both brands planned for late January.

Neither company gave terms of their agreement.

Oscar Feldenkreis, Perry Ellis president and chief operating officer, said the company expects a favorable consumer reaction to the extension of its Cubavera and Havanera lines.

"Paradise will design, market, and distribute a full selection of sneakers, sandals and casual shoes beginning with the fall season of 2003," he said. "This deal will allow us to continue to capitalize on the considerable strength of the Cubavera brand, and will reinforce our proprietary presence in the Latin market."

Perry Ellis shares closed up 50 cents to $16.40. The 52-week low was $5.87 on Jan. 16. The 52-week high was $18.25 on May 22.